billion dollars of additional quantitative easing, bam, gets us to 2,000, spot gold p. >> there's some investment advice if you're worried. hey, ty, see you back at the ranch. thanks for going down to the nyse. >> absolutely. the two guys on the crutches there up in engle wood cliffs. thanks for watching, everybody. >> see you tomorrow. street signs begins right now. in 1799, a very lucky prospector named conrad reed found a 17-pound hunk of gold nearby and 200 years later, this once-sleepy southern city named for a queen is now considered wall street south. we are talking charlotte, north carolina, home of nascar and one of the most spectacular skylines in the south. it's a city that's exposed in a big way to housing. the crash crushed bank of america but a bailout and a housing recovery have helped its shares. lowe's has been on a high, too, stock up about ten bucks in a year.

spx, carlyle companies, family dollar and sonic auto also standouts. over the past 12 months, charlotte area stocks up an average of 22% making it the second best city in america for stocks since last november. >> you're watching a special edition of street since live from the naz naz car hall of fame in charlotte, north carolina. here now is brian sullivan. >> all right, welcome, everybody, to charlotte and the nascar hall of fame. i tell you what out of the "street signs" team, i certainly have the better end of this gig today and i am in my element. we are at the spectacular nascar hall of fame in downtown charlotte, north carolina. as you say from the top, folks, charlotte can lay claim to having the second best city in america for the over the past year. you heard some of the names, not just the big boys like low's, carlyle companies, spx, family dollar, sonic automotive and more, all doing well analyzed

return november to november of about 21%. mandy, we have got a great lineup for you. got the co of carlyle, one of the top money managers in the region, got the president of speedway motor sports to talk even a little more nascar. i may not leave here and i know it's snowing up there i may just stay here. i'm camped out here for a while, i think. >> absolutely. come on, brian, you drew the long straw? i thought i drew the long straw being here in chilly and snowy new jersey. by the way, i knew that the second city would be somewhere down south and very friendly, when you tweeted out a picture of dottie, a local resident who came out in a piggly wiggly t-shirt, no less, offering you guys a cup of coffee. can't get much nicer than that, right? >> we were filming the neighborhood, literally doing the power walk things comes up what y'all doing? i said we are doing -- you will see her later on in the show. we have a tease i think we put her in, just so nice, dottie, we got to get you on television.

>> a good trade. >> what i love being back down south. >> a cup of coffee for being a star on cnbc. you have given us the lineup of what we have on the show. let me get to the markets, kind of flat lining today, pulled in different directions, fiscal cliff worries offsetting any bounce we might have gotten from debt greek deal diehl and also the good economic data here at home. bring you more on that in a second with steve liesman. the nasdaq is positive now, closed up yesterday, the sixth straight day, have is to work hard, do it again today. big stock mothers for you, conagra foods and ralcorp there, conagra sealing a dial diehl to buy ralcorp for $5 billion becoming the biggest private label food company here in north america. as i mentioned, good economic news out today but is it enough to erase any of the huge losses from hess hurricane sandy? let's find out. senior economic reporter steve liesman. can you answer that question for us, steve? >> best i can, sandy, may be early days but we are getting

new information about what the expected or estimated costs of hurricane sandy. we had governor cuomo, the entire state of new york, if town add in the costs of rebuilding, the economic damage, 42 billion, inclusive what we heard from mayor bloomberg, which was new york city 19 billion on its own. we heard from governor christie from new jersey, 29.4 billion. i think this san old number, keep trying to get a newer one, 360 million right now, where they are. come here andly it up, total estimated costs, 72 billion. kbred we got another piece of data from airport. r worldwide i 16 to 22 billion for insured costs. folks, we have called the new york and new jersey governments to find out if this number is in here, we don't know. it is either 72 or 90 billion, as we start to figure this out. we do know this air number is double the previous number.

is you can scale that up to the entire metro boll motorola tan area. the economic data coming in doesn't seem to have a lot of san isdy in it consumer confidence up 73.7, up 0.627 to 3.7, that is not really suggesting any sandy ease fengts or any fiscal cliff effects, maybe the rise has crested. chain store sales, 3% rise week on week. the best we have seen for thanksgiving, ending on that saturday since 1990. business investment, surprising

economists up 1.7. case-shiller home prices up 0.3. that march of home price continues higher. all i can say, i don't know if this goes back to mandy or brian but the story here is sandy's effects are yet to come, perhaps the cliff effects are yet to come but if i have to stop for the moment and not worry about the future, i would say the consumers a not doing too badly and business spending may be stabilizing toward going higher now. >> it feels like, steve vicious you are saying this recovery is real? >> it does feel real but we both know the challenges that are ahead. the data has to turn dune in part from sandy, got to be an effect before it begins to turn up you can the two-step you get in a storm. and then, i don't know if consumers are blissfully ignorant of the fiscal cliff or if they are intelligently anticipate a deal. >> i think a little bit of both in there thank you very much. >> my pleasure. you all figure that out. >> hand it now back to brian sullivan who is in city number

two charlotte, north carolina. you have a very special guest with you as well, brian? >> yeah, we do mandy, one of the purposes of this recovery road trip is to spot the companies that are under the radar a bit, not household neighbors maybe should be, based on their returns. cool about creating the city indexes. one of the names we uncovered was carlyle companies. carlyle companies' stock gone from $42 to $56 and change over the past year. the man who runs carlyle condition, dave roberts, chairman and ceo, joins us now, a very cool background we will get to in a second. mandy and steve liesman in englewood cliffs, talking about the recovery, whether it is real. you are a diversified industrial company, roofing your single biggest market, is the recovery real, dave? >> i think so i think if you look at our markets, the only market really slowed recently is our heavy equipment breaking business and i think what is happening, the cat pill lawyers, co-mat sues, adjusting invetter to. not as strong as the start of

the year, still growing. >> noticing any change in your customers' ordering habits ahead of the fiscal cliff? >> not at all. we hear some rumor or conversation about people waiting to see what's gonna happen, which would be the end users of our products, primarily roofing more than anything but seen nothing that suggests other than the braking business u. >> very cool what you are doing. i want to highlight this think it's great. part of our recovery road trip is about creating jobs. about the recovery, you are shutting down factories in china. >> correct. >> and bringing three factories and manufacturing jobs back to the united states over the next two years. i love that story. tell us why you're doing it. >> well, we actually started the end of 2011. we closed a tire factory, brought that back to jackson, tennessee. now in the process of bringing a food service plant and last dry built plant to come back. actually, be back at the end of this year and we will be manufacturing those products in

the u.s. rather than in china what we found is that its duties increased in china, labor increased in china and the cost of getting the product back going up. we can manufacture here cheaper than china. >> this is not just a patriotic move h you are think like a ceo, a balance sheet, profit mode, saying to our viewers are you can manufacture goods in america probably better quality, by the way, for less or the same as china? >> these correct. when you consider the overhe shall all cost, actually cheap in the u.s. as in china. the other thing, we don't have the working capital tied up in inventory, react more quickly to our customers, we manufacture here, what their needs are we can quickly react to what their changes are. we found it an advantage. >> i'm sure you hang out in the co clubs i hear about but never get invited to you think other manufacturing ceos do the same as you? >> products similar to ours and put numbers down on a piece of paper it is a very compelling

argument to bring it backs to the u.s. >> in part, i imagine, because natural gas remains historically low, not as low as it was but certainly not 6, 7 bucks btu. >> that helps but the price of oishlg the shipping costs have gone up and tariffs are a major issue now out of china in some markets, that's really what he's driven us back here. a great story. dave roberts, ceo of carlyle companies. not only is that a great story for america, dave's a modest guy, he won the baja 1,000 this year the 1,000-mile off-road race through the deserts of mexico. this guy is who i want to be when i grow up. >> a double hero then, how want to be when you grow up. you have to grow up first of all, sullivan. we will get back to you in a second. meantime, on deck, you just heard from a big co in charlotte. next up, brian is going to sit down with a small business co who says his stores are booming. his secret, coming up. later on, we are powerball dreaming, what would do you if you were half a billion dollars

richer? ♪ if i were a rich man one of charlotte's top managers tell you three things you should do with that moneyer. you can only dream. the story of charlotte is whirlwind growth, from 2000 to 2010, no town in america grew faster than charlotte with 1 million people. one of the most impressive skylines in all of america. with the growth came jobs. ♪

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you are looking at live pictures of the white house where in just a few minutes' time, small business leaders will meet with members of the obama administration. what are they gonna do? they are going to try to tackle the looming fiscal cliff. so, when it comes to cutting spending, the big questions are where and just how much? ammanoffers is on capitol hill, you have been looking at all the options, lay it out for us. >> so much of the sound and fury in this debate has been over taxes and tax cuts and where that side of equation is gonna go but don't forget, entitlement spending and discretionary and defense spending are going to be a big part of the solution to this. senator dick durbin today suggested that medicare, medicaid and social security ought to be taken off the table for the fiscal cliff covers this

year. so where are they going to find these spending cuts? it's going to be kind of painful. take a look at what simpson boles proposes that is sort of the jumping off point for a lot of this debate. they say in the year 2015 going to have $372 billion worth of savings in their plan and start on the defense side, you can see why some of this is going to be so very painful for so many members on capitol hill. want to reduce defense procurement by 15%, they want to reduce overseas bases by 30%, a huge number. that would save just 8.5 billion. they want to freeze dod compensation for three years saving 5.3 billion. and then on the domestic side, they would reduce the congressional and white house budgets by 15% and as appealing that is sounds to most americans it is only going to save about 0.8 billion. they would cut the federal workforce by 10s for 13.2 billion and slow the growth of foreign aid. so brian, as you can see here, there are a lot of tough choices that have to be made on the

spending side but to get to these big numbers have do a lot of ones and twos, going through the federal budget line by line. >> yeah, we need an excess inventory of come mass, i think, these numbers are very, very large, eamon. >> the president mading with small business, so are we, part part of the rise above campaign and the road trip, the cities we're going to, have you noticed, also sitting down with small business owners, we want to hear from them directly how they are doing what they are concerned about and where they seat next year. very cool story, we found a furniture store, actually two owned by a fellow named rodney hines, a charlotte, north carolina, native, he actually started his company three months before 9/11, expanded all the way through the downturn. we sat down with him and i asked him how does he see 2013?

>> if i can have 15% growth like i did in 2012 and '11 i'm golden. up the think you can do that? >> absolutely. focus on what you can do in your own business and not worry about other businesses around you. >> hows that been the last few years as a small business owner? >> it has not been -- really challenging, however, there again, you have to go out there. tough give the people what they want as far as the product you can the pricing, the environment. it's almost like being on stage. you have to entertain people to get them to buy something. >> charlotte though, amazing growth the last decade. absolutely. >> how much has that played a role? >> you know, with bank of america and all the businesses here, it's pretty good. like i said, charlotte -- >> this is a higher end store? >> yeah. >> a higher end client tell. >> a boutique, not a big box store, you don't come in here and shop and get the same thing -- >> i'm not -- i am not getting this at -- >> that's great for --

>> what is this? >> it is actually an element you can put in your book says case or an accessory. >> i can afford it, too of the. 2013, 15% growth, what could how olding back? what are you worried right now you rodney? >> the negativity of any -- everybody. i think that's -- if people would be more positive, we would grow >> are you quietly blaming you the media? >> no, not quietly. >> directly? >> no. no. no. not at all. with pfrnlt. >> people look at the positive. >> rodney, a real pleasure, rodney lines you can the furniture connection, tfc, love t thanks for your growth. by the way, guys, started three months after -- three months before 9/11 in a 10 by 20 store, now has a couple of stores. congratulations. >> yes. thank you. thank you. >> that was very cool. i -- mandy, i loved rodney, right? the guy's optimistic, he

expanded in the downturn. he is like,lien, be -- worry about yourself, don't worry about d.c. expand, optimism. that guy is a living sunshine stop. >> obviously watched a lot of street signs and bought the hopium as well, doubly like him because he didn't blame the media. thanks, get back to you in a second. the meantime you can the countdown continues, tick tock, only 34 days until we fall off that fiscal cliff. so let's ask our washington insider what is the most radical fiscal cliff. robert costa what is your your radical cliff? >> things doug to solve the problems in this country, not just a solution legislatively right now with the fiscal cliff. eliminate the department of education, lots of republicans have talked about that also talked about eliminating subsidies, especially with agriculture. we spend billions there every year. third what you have he's got to do is really start to cut down on the program that is federal office why not privatize

s. >> second to you can in one, eliminate the department of education. what would you replace it with and what happens to the edge cakes of the kids, like mine in public schools here in the united states? >> not about replacing it education has been the purview of the states. bringing the states back into the discussion, giving more powers to the state you that, is the solution, take the federal government out of t. >> so those three fixes you have put forward, robert, how much money would that save us? >> we have no idea how much exact think would save but the fiscal cliff right now a band-aid on top of this larger fiscal problem. the real question when is the federal government and congress getting serious about make the cuts they need to protect the debt long term and fay off? >> absolutely the problem. put a band-aid over the fiscal cliff. okay. we ticked that one off. then a lot of long-term problems to solve here. i would like to ask you though, robert, because you, along with many other people who talked to us on cnbc, their wish list of what they would like that is a wish list. how realistic is it? >> not that realistic, but it could happen because if the tax

rates are secondsed to 2013 you are going to have an opportunity for major tax reform and maybe an opportunity to really look at the federal budget and see what can be cut. >> robert, thank you very much for talking us to here on cnbc. we are going to head to the west coast to the l.a. auto show in a second where we talk to the ceo of volkswagen on why a top down approach is really paying offer. brian, what do you have coming up over there? >> i want to show you this car because we are going to talk more about nascar coming up. look at this 2002, mike harmon hit the end of the pit entrance wall. we are only showing you that car 'cause he walked away. testament to the safety of nascar, but this thing sun believable. i had these -- never with you, mandy, but shows that looked like that actually as a relative. talk more about nascar with marcus smith, president of publicly traded speedway motor sports when this recovery road trip special from charlotte, north carolina, rolls on, right after the break.

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volkings wagon is taking the top off the new vw cop vertible, today at the l.a. auto show. that is where we find phil

lebeau and has a first on cnb krt company's ceo. >> joined by jonathan browning, the head of vw north america and we will talk waugh little bit mow mohr and show you more on camera, let's move out of the way and show every be this gorgeous vehicle here, the new 2014 -- or '13 model of the beatle convertible. tell me about it. >> not many cars in the market that doesn't need much explanation but this is definitely one of them and it's a stunning vehicle. it's vehicle that represents also the fun and freedom in the marketplace and we are really, really excited ton launching this at the l.a. show tomorrow. >> so much demand for cop vertibles? >> it is, it does come back to that sense of freedom and fun and what we find with the convertible segment is that lots of people, when they have the right product available, actually respond to the market and we see this coming into the marketplace. >> let me ask you about what you're seeing in the u.s. 31% growth in sales this year. you have been red hot but even you have admitteded in the past

couple of months, listen, we can't expect 31% growth next year. >> sure. >> how do you manage slower growth? >> you know, i think you have to see our growth in the context of the last couple of years really. i mean, we -- this is now our third year of significant double-digit growth. so over three years, grown over 100%. that isn't going to be maintained forever. so, what we are doing planning for a period of consolidation, slower growth into next year and beyond, but this is really all part of our overall u.s. growth strategy. we have invested $4 billion in the u.s. in terms of infrastructure and product and what you're seeing here is the result of that. >> earlier today, consumer confidence numbers come out stronger than five years, is the pie growing in terms of expectation amongst consumers to spend more on a beatle convertible or any car? >> yeah, those people who are confident about employment are now committing to the marketplace and you we are seeing that driving growth, not just this year but expecting that to continue to next year as well. >> jonathan browning, the map

who runs vw north america. you are riding the bronco right now, up 31%. >> this is fun. >> these are better interviews when up 31% here with the new beetle convertible. send it back to you. mandy? >> thanks very much for that, phil lebeau. guess what we have here at the mothership, street talk with our very own her bit love bug, herb greenberg. and facebook on a real tear, up 33% the last three months. you might have noticed. buts here the but, there is one thing that could bring the run to a screeching halt. got to stick around to find out what it is, next. and we can save you 10% on ground shipping over the ups store.

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a street talk time. herb here to talk about stocks on the radar, under the radar, whatever, people need to know about them. easy come but size go for r.i.m., right? >> the stock ahead of where it was two or three days ago, when

it is down 6% it is a reality check that, you know, remember, analyst out there that says this sun investable for the long term. another analyst is betting on the blackberry 10. >> people stay is a trade rather than investment at this point. next up, a pair of shoemaker, crocs are, also deckers. >> this is an interesting one. goldman sachs out with a report today on the footwear industry, they say croc and direction broken fads but put a buy on croc, keep dex at a neutral and, you know, i talked to people who like croc, one of my sources says the main failure here is one of management communications expectations setting, investor relation and credibility, but also says everything else is okay. inventory's fine. turn that around, look at deckers. loots of inventory, lots of acquisition, still one, i see lots of red flags from people i speak to >> uggs one of the most searched items on cybermonday. >> see what price they are selling them at.

in the end, how much money will they make the uggs. >> will he or won't he, richard schultz, the founder, come back and make a bid for best buy? saying he is supposed to be with bankers later this week. there are people i know in the industry say they think he will get a bid done to do whatever needs to be done, make it less depressing under -- under the radar and out of the public eye. >> here's one that's going to be reporting after the bell today and one you watch a lot, green mountain coffee roasters. >> all i have to say about green mountain, they had darn well have a really good quarter, no disappointments, otherwise a big problem. >> what are we watching for in particular in terms of commentary? >> anything this is the audited fourth quarter, have any surprises because the number views been scrubbed so thoroughly? >> finally, we have got monster bev ram, not worldwide, monster beverage, it is soaring today. what is going on?

>> a report saying comments from the federal -- the food and drug administration that are in response to two senators who are seeking an investigation of energy drinks actually results in something pretty benign, what the fda did, they went through a long-winded multipage report saying there is no scientific evidence to prove there's something really bad caffeine and some of the other, you know exproduct , some of the other prodproduct in the end, the public will have an outcry over the health issues if we continue to see more issues. >> a story that doesn't have an end. >> no. >> the mean tile, take a look at facebook, this stock has been on a tear. up 37% the past three months, 2622, her bay, long way below 38 ipo from may but still one big red flag and it is hanging over the company. why don't we ask what it is with julia boorstin.

julia? >> well, mandy, facebook has had its share of issues when it comes to privacy, as you may recall, back in april, they signed big deal with the ftc, right now, facebook proposed new privacy changes right toward the end of the comment period, a 7-day comment period about 19,000 comments about about the proposed changes, it is not hitting the stock any, but facebook is going to have to deal with the user concern he is. >> in terms of getting commentary, a whole pile of quantity but not a whole lot of quality u when you invite commentary in an online space, you are going to get a lot of people writing in and saying things like "you suck" not very valuable at the end of the day. >> one of the issues here is face book trying to propose getting rid of a voting system. before, it would allow all of the users to votes on the proposed changes. they were saying this didn't really work, you needed to have

30% of the users vote for it to make a difference. what they are doing now, instead of having a vote, we are just going to have comment. what is interesting, because they have had 19,000 comments, that triggers a vote starting at 7,000 comments. they will actually is a vote on whether or not users should be able to vote to approve the policy changes. >> the one thing i think going through the facebook issues, we were to go through all the privacy issues we never read, the type print we never read in any of the websites when it comes to cookies and other privacy-related issues, i think we would all be in for a rude awakening. >> facebook has been dealing with privacy concerns from day one. i feel like i have done this year every year for the past five years. they readjust, they reassure users and move on, made a settlement with the ftc, have independent audits, something everyone on the web has to deal with google dealt with these issues, i think there is an ongoing negotiation between

users and company what is people feel comfortable with and what companies feel like they can do without really frustrating their users because, look, it is in facebook's best interest to make sure it doesn't scare away users by making them feel like it is giving away their personal information, violating their privacy, the companies themselves it is in their best interest to keep everyone happy p >> these growing privacy concerns aside for a second, julia, you just look at the share price itself, the tear it has been on. you do feel as if wall street is bucking positive motor equity research hiking you the price target to 32 from 27. mobile advertising growth, all about mobile and growth. >> mobile and growth. yesterday, two of the analysts bearish on the stock gave upgrades the fact they expect

sfoekt see a big surge in ad revenue the next couple of quarters. a big jump in ads, face book showing more ads, facebook has to be careful about not showing so many ads it frustrates users they are bullish in the near term but the question whether facebook can do that dance long term. >> don't want to backfire. julia boorstin, thank you very much. the mean time, the blame game is heating up between autonomy and hewlett-packard, jon fortt, you have been following the back and forth and millions of headlines coming out on this topic just today, right? >> i know herb has too. quite stunning you. hp responded to mike lynch's letter saying there was a willful effort to mislead investors in autonomy in the accounting. last week they took an 8.8

billion write down about 5 billion of that attributable to autonomy. founder mike lynch this morning said i utterly reject all allegations of impropriety, hp management not communicated with him what happened it is about, autonomy's accounting was done directly under ifrs accounting ruleses, different from u.s. gap rules, hp to explain how its accountants missed what led to a write down worth $5 billion. some of the blame here clearly lays with hp management. we are not going to debate mike lynch here in the open exhp management says. look forward to a trial something in the system where mike lynch and veers to answer to this under penalty of perjury. quite a back and forth here. >> this is one of the great food fights i have seen when you have

got the back and forth here. i tweeted out this morning, you want to ask whether lynch doth protest too much. looking at that both sides, we knew, staying so many times, forensic accountant out there, short sellers out there, raising flagsers of the very issues hp is raising before the acquisition. the point, why did they do the acquisition you gets you to the point, maybe hp was desperate, they see the business having serious problems? >> you had the new leadership coming in, a poi at this, ray lane. software guys eager to change the profile of hp. they wanted to do a big acquisition. they found one.

didn't find what they thought they found. mike lynch saying the books open to look at all along. accounting was different, europe versus u.s. don't lay the blame on me. see where it goes guys. >> thank you very much, jon fortt. on street signs, the one thing you should do if you hit the $500 million jackpot. and then, brian is revving up the enjoys, excuse the pun, on our recovery road trip. how race cars are driving charlotte's economy.

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i would like to bring your attention to what's a happening with the markets. all day, we have been kind of flat. as you can see now the dow down by half a percent or 66 points and the reason for this is that senate majority leader harry reid just moments ago said there has been little progress made

recently in the fiscal cliff talk and he is disappointed with the little progress made. he said it is time to get past the happy talk. as a result, stocks taken a turn for the worse. last week, brian, stocks were up three indices by 3 to 4% on hope that we could would get some progress on these fiscal cliff talks. >> wonder who harry reid is disappointed with, given he is the senate majority leader. fess the leader of the senate circumstance disappointed with himself? congressional leaders, boehner and reid that have to lead the negotiations who is he disappointed with? yell at your party, yell at the other party, yet get in a room, play a game of jennings ga, who cares, get this thing resolved who is he disappointed with, highly confused that happens

frequently. >> sit down and sort it out, all i can say. the meantime who have you got over there with you in charlotte, north carolina? >> talk about that with larry carroll. the headlines moving the market. larry carroll runs carroll financial advisories, one of the top five financial advisers in the entire state of north carolina as ranked by baron's. there we go. it is the voice of nascar god saying, brian, move the show along. i guess i'm going to send it back to you, i can't hear a thing. hold on, hold on, do you have one of these, mandy? i have to say i went out, memorize those numbers, went out and bought a ticket. all right. here we go. thank you, guys. thank you, higher being. larry carr.carroll financial advisers, thanks for rolling with that, live tv it is

fantastic. the fiscal cliff stuff not as fantastic. you represent wealthy client, you are a smart guy, what are you advising clients to do about this? >> put numbers on the fiscal cliff. we have an economy growing between 1 and 2% a year f we go over the cliff, take three 3 to 4% out of the economy. >> resession. >> put us in recession. why think they are going to sit there and let that happen any real period of time. a question whether they solve the problem in december before they go over could it in january or february, effective january 1. >> not to be glass half empty, you heard the harry reid comment. let's not forget, a lot of these men and women in congress are the same ones there putting blame on both parties to get us to here in the first place why should we be could confident the same people that got us here will get us out of it? >> politicians by nature don't

take action until they are backed in a corner with the gun to their head. right knew in the correspondent the gun's loaded. >> recessionary gun. >> resessionnary gun. we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the bigger issue, we are in a slow growth/no growth economy, even after we solve that what are we going to do too move this economy forward? >> what are you advising your clients to do with their money? >> one, a little bit on the conservative side, a normal account would be 50% stocks, 50% bonds, we may be about 40/60, i'm very concerned about the bond market at this point over time. >> treasury, corporates. >> wither in corps pratt, also in some alternative oriented things. secondly, i think we are in a market it makes sense to produce income. if the dow at 13, 14,000 now and

13, 14,000 in three years which could be the situation in a muddling along economy what interest in dividends you produced that period of time. if you believe this isn't going to be a high-growth economy, it leads to you producing it quickly and evenly. >> we got to get to eamonoffers in d.c. the higher tax rate you. >> where are you going to go? >> the dividends is misplaced because your view, it is the letters evil no place else -- >> i absolutely think it is the letters evil from a tax perspecti perspective. i have to take more risk by being in growth stocks or have to go to the fixed income markets not adequately compensated for the risk. >> larry carroll, thanks very much. don't be a stranger. got go eamon javers back to you in washington, d.c. probably heard my rant about harry reid saying he is disappointed. what exactly is happening?

he is the senate majority leader? isn't he the one supposed to leading these discussions? >> that session actually the question, brian. tell you what is happening on the senate side of the capital, harry reid address the reporters in the ohio clock stakeout area, his headlines from those comments start to move the markets a little bit, headlines including senator harry reid, little progress made in fiscal cliff discussions and disappointed with the little progress made in the debt talks, time to move past happy chatter. my take on this not standing there, haven't heard the full comment what is harry reid said. reading what is hitting the wires now this is harry reid applying pressure too negotiators to start to make progress. what he would like to see is actual specifics fleshed out. a questioning at the white house briefing today with jay garni facing hostile questions saying wait a second, why is the president traveling to pennsylvania and other place around the country? how come he is not meeting with

lawmakers here in washington and getting something hammered out? the anticipate the white house gave to that question is look, the president doesn't have to be physically in the room for negotiations to continue behind the scenes. i think what harry reid is saying here there are is a lot of stuff behind behind the scenn but not a lot of visible public progress. so i caution people to reacting too strongly to it. >> eamon javers, thank you very much. i know you're going to be on all night long as the markets did sell on those comments. thank you very much. coming up after the break, with the nascar hall of fame, where it's headed next year and the economic benefit alone that nascar brings to the charlotte area. it is fantastic. we are back after this short pin stop on "street signs."

welcome back. i want to call your attention to the markets. i know mandy hit on some of these headlines. we're basically at the lows of

the day. comments from harry reid saying he was disappointed in the lack of fiscal cliff talks. two sides maybe still far apart. that spooking investors. dow jones industrial average down 71 points, basically on our lows of the day. let's wrap up our recovery road trip with one of the big economic engines, worst pun ever by the way, for charlotte, north carolina. it's estimated nascar has added more than $5 billion to the area. we're joined my marcus smith, the president of publicly traded speedway motor sports. they own nine tracks, sonoma and the charlotte motor speedway. thanks for joining us. i know you and your dad sometimes have had a con ttentis nascar a bit. what do you see happening in 2013? >> i think we have great news as a sport. nascar is a tremendous economic engine for the charlotte region, as you mentioned. it's a great economic engine

wherever there is a nascar race. over $150 million are generated by having one nascar weekend in a given city. >> wow. $150 million to every town. >> you got it. average fan travels over 300 miles one way. we have more fortune 500 companies involved this nascar this year than three or four years ago. it's a place where america wants to be. >> when you build a track, and i know you looked at staten island. couldn't quite get the support you wanted. how many jobs are created? >> when we build a facility, you're talking about huge construction. it's probably a $1 billion affair, just like a football stadium today. ongoing, you're talking about thousands of people that descend on a speedway, 5,000, 6,000 people that go to work to bring the show to all the fans with over 10,000 people just camping at a speedway on average. another 100, 120,000 coming in for the weekend. it's a tremendous undertaking,

more than you would expect. it takes thousands of people to make that happen. >> marcus smith, thank you for joining us here. good luck. see you at the track. mandy, probably one thing you and your family have to do. hit a nascar race. you want to be an american. there you go. nascar. >> it's step five on my six-step plan to becoming an american. okay. once again, we're hitting on 1400 psychological technical level there for the s&p 500. markets took a turn for the worse after the comments from harry reid saying it is time to get past the happy talk. he is disappointed with the progress being made in debt talks. we're right back after the break. for 30 some years at manytendet different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter.

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for purchasing prevacid24hr. prevent acid all day and all night for 24 hours with prevacid24hr. it's time to settle it all. the city that can lay claim to being the best city for the stock market over the past year. who's number one? tune in to cnbc and "street signs" tomorrow to find out. all right. there you go. tomorrow the number one city for the stock market over the past year, mandy. i'm going to race to the airport like i did last night. how cool is this? i want to say thanks to our friends at nascar and the nascar hall of fame in the city of charlotte. that's awesome. >> that really is awesome. we're looking toward to seeing you in mystery city number one. real quick, the dow is down by 61 points right now on the back